Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Development

SOLD: 1946-1998 Glenaire Drive, North Vancouver

I am pleased to announce the sale of a 5-lot, 39,448 SF land assembly in the Lions Gate Village area of North Vancouver for $7,435,000. The lots have now been designated for townhouse development in the Lower Capilano Peripheral Area Plan. The buyer is PC Urban.

1946-1998 Glenaire

December 22, 2015by david.taylor@colliers.com
Development, Retail

Rezoning Planned for Super-8 Hotel Site

After an initial inquiry earlier this year, a formal rezoning application has now been submitted for the 1.8 acre Super-8 Motel site at the corner of Fraser and SE Marine Drive in East Vancouver (formerly known as the Blue Boy Motor Hotel).

The proposed plan for 725-747 Southeast Marine Drive, owned by Serracan Properties, is to rezone the existing CD-1 zoning to a revised CD-1 to permit a mixed-use development with commercial, residential, and community uses, including public open space. The proposal includes:

  • four buildings, including:
    • one 22-storey building;
    • one 12-storey building; and
    • two 5-storey buildings
  • approximately 368 residential units;
  • 15,500 SF of retail space at grade;
  • a 37-space childcare facility (4,760 SF);
  • public open space on site;
  • a total density of 3.98 FSR;
  • maximum building heights from 59 ft. to 207 ft; and
  • 377 vehicle parking spaces.

The application is being considered under the Sunset Community Vision. Serracan and the City of Vancouver held numerous open houses and public feedback sessions with the local community as part of an exhaustive preliminary planning and pre-application process.

725 SE Marine Dr_3 725 SE Marine Dr_4 725 SE Marine Dr_5 725 SE Marine Dr_6

December 22, 2015by david.taylor@colliers.com
Development, Retail

5-Storey Building Planned for Mount Pleasant

A development application has been submitted for a site at 379 East Broadway in East Vancouver, across from Kingsgate Mall. The plan is to develop the 8,677 SF, C-3A zoned site with a 5-storey mixed use building. The proposal includes the following

  • 29 residential units (one and two bedrooms)
  • 3,851 SF of retail on the ground floor;
  • Total density of 3.27 FSR;
  • Total floor area of 28,830 SF;
  • 38 underground parking spaces accessed from the lane.

The architect, Ankenman Marchand, explains the design rationale: “The site is located in a neighbourhood with a large variety of older buildings in need of upgrade. These blocks need sensitive redevelopment that is going to re-establish a vital, pedestrian focused shopping area for the local community. We are following the City of Vancouver, Broadway East, revitalization strategy described in the Mount Pleasant Community Plan guidelines.”

379 E Broadway 379 E Broadway_1 379 E Broadway_2

 

December 22, 2015by david.taylor@colliers.com
Development

SOLD: 1484 Martin Street, White Rock

I am pleased to announce the sale of 1484 Martin Street; a 2.5 acre parcel of land representing one of White Rock’s premier mixed-use development opportunities. The property sold for $22,000,000.

1484 Martin_SOLD1484 Martin Street Brochure

December 15, 2015by david.taylor@colliers.com
Development

17-Unit Townhouse Project Planned for Granville & 57th

Formwerks Architectural, on behalf of Marcon, has applied to redevelop a 3-lot land assembly on Granville Street for townhouse use. The 20,141 SF site is zoned RM-8N, one of the new zones in the Marpole Community Plan. The project, located between West 57th and West 58th Avenue, includes the following:

  • two 2-storey and two 3-storey courtyard townhouse buildings
  • a total of 17 units
  • all 3-bedrooms ranging between 1,272 SF and 1,571 SF
  • a total density of 1.12 FSR
  • one level of underground parking containing 34 spaces

The application describes the massing of the project: “Courtyard townhomes are proposed with a 24’ courtyard. Massing is further stepped back at upper levels to allow more natural light into the courtyard. The proposed development also features underground parking with access off the rear lane. We are proposing a two storey with a partial third storey expression along Granville Street, and the third storey is more set back to suit a single-family expression.”

Granville & 57th Granville & 57th_1

December 14, 2015by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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